The firm sees only +0.9%/+3.1% organic growth in 2013/2014 as strength in Auto OEM/Welding is offset by weakness in IP-driven segments. In addition, while the company is off to a good start with enterprise initiatives, management expectations already assume a meaningful acceleration through the rest of the year and into 2014, limiting upside. Also, the stock is trading at just a 3% discount to covered peers, versus a historical discount of 10%.

For an analyst ratings summary and ratings history on Illinois Tool Works click here. For more ratings news on Illinois Tool Works click here. Shares of Illinois Tool Works closed at $68.43 yesterday, with a 52 week range of $49.07-$71.74.